In their interest to garner favor with U.S. companies (mainly in search of campaign funds), the U.S. Congress has allowed these companies to escape U.S. corporate taxes by magically declaring that their IP is located in some foreign tax haven.
At a time when more elected officials are turning their attention to income inequality in this country, increasing corporate tax breaks is no way to address it. Workers and their families are struggling to make ends meet. Communities are broken.
Tax reform has evolved into one of the emptier platitudes of U.S. politics. Politicians support "tax reform" in the same way that they support "a strong national defense," "fiscal responsibility," and "pro-growth economic policies." It's a brave statement in search of a challenge. Is anyone ever against tax reform?
"That's the type of thing that could be paired with very serious entitlement reform to have the next step of deficit reduction
This week, BNY will square off against the Internal Revenue Service in U.S. Tax Court in New York over STARS and the tax
Earlier this month, Mayor Michael Bloomberg presented New York City's Financial Plan for the next four years. It demonstrates a stark new reality: there is no large surplus of revenues, as there has been in past years.